Shares of Samsung Heavy down 27 pct on $1.4 bln rights offering plan

Reuters Staff

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SEOUL, Dec 6 (Reuters) - Shares of Samsung Heavy Industries slumped in morning trading on Wednesday to their lowest point in a year after the South Korean shipbuilder announced a $1.4 billion rights offering to improve its finances.

Its shares were down as much as 27 percent to their lowest level since mid-December in 2016. (Reporting by Hyunjoo Jin and Cynthia Kim; Editing by Paul Tait)